• Mesabi Trust swung to a net loss of USD 95,013 for the quarter ended July 31, 2026, from net income a year earlier.
• Royalty income fell 42.99% to USD 2.33 million, attributed to no bonus royalties versus USD 2.02 million previously.
• Expenses climbed to USD 2.58 million, driven by higher legal fees and costs tied to the pending AAA arbitration.
• Distributions declared dropped to USD 0.05 per unit, from USD 0.12 per unit in the prior-year quarter.
• Cliffs’ quarterly report credited USD 1.59 million in base royalties for the June quarter, with no bonus royalties; total cash royalties received were USD 1.81 million.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Mesabi Trust published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-107085), on September 11, 2026, and is solely responsible for the information contained therein.